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The Book on Negotiating Real Estate

When the real estate market gets hot, it’s the investors who know the ins-and-outs of negotiating with sellers who will get the deal. This book combines real-world experience and the science of negotiation to cover all aspects of the real estate negotiation process.

South Beach is for sale

Investor from Williamsburg, VA

posted about 1 year ago

Hey everyone,
My wife and I have always wanted to have a property or multiple properties in South Beach Miami. Keeping it basic for a moment, does anyone know why there are so many properties for sale right now? We like Meridian Ave., and even just on Meridian alone there are multiple condos for sale in seemingly every other building. What is the status of the market right now and in the future?
Thanks,
Erik

Real Estate Investor from Miami, Florida

replied about 1 year ago

I managed a couple of multifamily rental properties from South Beach to Sunny Isles including one in Meridian Ave. I have always seen a lot of sale listings in Miami Beach mostly due to short term living on the beach. They buy and sell within a year.

South Beach prices for units are high compared to the rent, so keep that in mind when youre calculating the cap rate.